All publications by tag «Tencent»
Tencent’s complicated relationship with Chinese government and media cost it $400 billion in market value
Tencent saw its market cap drop almost twice since the beginning of the year. It is all happening in the wake of new regulations from the Chinese government that has a long history of love-hate relationship with the games industry.
Leyou Technologies that Tencent bought for $1.3 billion turned into ‘satellite studio’
Last year, Tencent acquired Chinese holding company Leyou Technologies, which owns IPs like Warframe and Gears Tactics, for $1.3 billion. Following the acquisition, Leyou became a “satellite studio” due to the mass exodus of employees and a few cancelled projects.
It was Tencent all along! How China’s tech giant inspired Epic to bypass Google Play, something Google hoped Tencent would help stop
While the news around the Epic antitrust legal battle have been dropping for months now, it is just now that the court documents have been shared in an unredacted form.
Footage of Tencent employees touching women’s breasts at company event resurfaces amid Activision Blizzard scandal
Tencent’s annual parties reportedly used to include disturbing activities demeaning to women, as shown in the videos that reappeared online. The company event shown in the video took place in 2017. Since then, the Chinese tech giant has apologized for the behavior seen in the footage and promised to tackle it “head-on”.
Report: Tencent to acquire King’s Bounty developer 1C Entertainment
Tencent is continuing its acquisition spree, with the latest report claiming that the Chinese company is ready to buy 1C Entertainment. The Russian-founded and Poland-based company is best known for reinventing the iconic King’s Bounty series.
Gaming deals activity in H1 2021: “4x growth vs. H1’20 on all fronts”
According to InvestGame, the gaming segment in H1’21 saw “a vast 4x growth vs. H1’20 on all fronts,” with $32.7B (vs. $7.7B in H1’20) deal value across 267 deals, including $20.4B in M&As (+486% YoY), $2.8B in private transactions (+367% YoY), and $9.5B in public offerings (+157% YoY).
Chinese companies might promote their ideals through Western game studios they snap, experts think
Tech giants like Tencent act aggressively in the M&A market, buying stakes in many Western studios. Amid the ongoing consolidation, some experts believe that Chinese companies could promote their values through games and even control the way reality is portrayed in them.
Tencent makes another M&A deal, investing in Swedish indie developer Stunlock Studios
Soon after announcing the $1.27 billion Sumo Group deal, Tencent has revealed another investment. The Chinese tech giant became a major shareholder of Stunlock Studios, a Swedish indie company known for its popular arena brawler Battlerite.
Former Crytek dev challenges Bild’s narrative about China being after CryEngine for military application
Marcel Hatam, currently International Brand Manager at Ubisoft and formerly Brand Manager at Crytek, has shared his thoughts on Bild’s coverage of the potential acquisition talks between Crytek and Tencent.
Bild: Tencent to acquire Crytek to potentially equip China’s army with CryEngine military sims
According to German tabloid Bild, Tencent has plans to acquire Germany-based Crytek for over €300 million via its European subsidiary. Bild claims that it’s not games that the Chinese giant might be after.
Tencent obtains patent to allow inheritance of digital in-game items
In the digital age, some people might want to know what will happen to their accounts and in-game items after their death. Tencent might just have an answer to this question, now that it has obtained a new potent that allows inheriting digital assets.
Tencent goes on ‘Midnight Patrol’ with facial recognition system that prevents minors from gaming at night
Although Chinese laws forbid kids to play video games at night, minors have been using different tricks to bypass these restrictions. However, they probably won’t be able to do it anymore with the deployment of Tencent’s new facial recognition system.
Studio behind PUBG Mobile abandons 6-day workweek, preventing employees from working past 9:00 PM
Chinese tech companies have very strict working rules, with many employees having to work six days a week, from 9:00 AM to 9:00 PM. However, Tencent-owned studio Lightspeed & Quantum, known for developing PUBG Mobile, decided to make a few changes to this system.